WILL WE FALL TO IT?

NZ Truth, Issue 946, 12 January 1924, Page 3

WILL WE FALL TO IT?

II The New Inflation ftUCE MORE ON A JOY-RIDE, otor Car A Badge Of Bad Farming. ' (By "Father.") Are we going to experience another slump with its spectre of Unemployment? If we are, why not let us take care to get ready, I to prevent, if possible, sudh. a \ catastrophe, or at least to minimise its effects. If we need signs of the impending storm let us note the importations of this countryi the condition of the people, and the taxation. Our imports for ten months ending October 31 cost us £36,000,000, an increase of 27 per cent, over the corresponding period pf last year. Is there any -reason why we should import £232,000 worth ' of confectionery when w<> have to face so much taxation? ; Why£ 4B6,ooo for imports of fruit, £610,000 for whisky, t £381,000 for coal, £764,000 for rubber tj/res, £511,000. for leather, £1,947,000 mgor motor vehicles, £1,433,000 for benifzine and £1,214,000 for tobacco? (All '■■' m ten months.) . Why; such shocking extravagance?.; . ; THE YANKEE PURCHASES. Is there any need for £232,000 worth of foreign confectionery, or £100.00*6! worm oi Yankee ttlms, or £2,711,0017 o£ Yankee motors and benzine? If ; our local nrms cannot manufacture enougn ioliiea ana cnocoiates it; id * a jjodu reaaon. for doing wllEbutL CutUng out "smart" YanK.ee pictures m anj opportunity for saving^a cool .Cioo.oocr. , A. t>anlc manager is reported, to m.ye said tnat nis uank iioa suileired. trom a , "procession of tnieves," each otnee boy being a picture show addict. • • • iIf our fruitgrowers have to let their fruit rot by the ton, where the necessity for importing ten million pounds of fruit costing £486,000? Are we m Buch need of Yankee fruit that we can afford to pile up debt to get it? THE FURIOUS FARMER. If our .farmers really need Yankee cars (11,336 m ten months) and Yankee benzine (17,683,258 [gallons m ten ■ months) to' chase up every race meeting, show, sports meeting and stock sale within a radius of|6o miles, then] farmers are different from what they were In the last generation. This writer has certain knowledge that the possession of a car is regarded by financial circles as a badge of bad farming, and for the sufficient reason that a ear-farmer neglects his farm and spends valuable days ! every week careering, around the country, while he and his family are recklessly spending. . Why does bvery farmer rush to the sale? Certainly not to buy or sell stock. Is lit not to have his usual meeting, and Bpend his usual weekly dole on meals, drink, benzine and tyres. He ."tires" of work ihighty. quickly" nowadays. Thdn he must see half a dozen race meetings m the year, J and God forbid he should miss any of j the shows within fifty miles. He is obsessed with this lunatic craze to be rushing around the country. Every one of his neighbors has a car, so why should he drive the old ''neddy" of his father's day? An old stock buyer told the writer that there will come a day soon when this neglecting of farms will smash, the farmers) by the score, and the only cure for the craze, m his opinion, is "empty belliep."'

Then we have the fbrejgn trusts that get our money m millions (£1,214,000 for tobacco m ten months, £1,014,000 for sugar m ten months, £8,434,000 for soft goods m ten months, £510,000 for whisky Iri ten months and £1,433,000 tor benzine m ten months). Is not

this a staggering load for a popular tion of * 1,250,000, of whom one-third are under 15 years of age; and another one-third are women over that age? CHAMPAGNE LIVING, BEER , INCOME. Sufficient has been written to show that for a population of 400,000 male 3 over 15 years of age, an expenditure of £43,000,000 a year for imports is too expensive, and will have to be curtailed sooner or later. Let us consider, too, the expenditure of local bodies. Is it not notorious that local bodies the length and breadth of the land are saddling us with debt at a pace that must spell disaster if much longer persisted m? In 1895 their expediture was £1,627,000; m 1905 It rose to £3,601,000; m 1915 it reached" £6,806.000; and m 1921 it touched the beam at £12,762,000. Local bodies' outstanding loans amounted m 1895 to £7,406,000; m 1905 they were to £12,298,000; m 1916 they climbed up to £23,249,000; and m 1921 they reached the appalling total of £32,465,000. It is sheer nonsense to say that this expenditure is justified, or 'that it is necessary, and one shudders to thlnH how much of it is the result of sheer stupid administration, reckless extravagance, and shameless waste. When land values tumble down to normal the rates must still be paid, and then the innocent,' the ignorant,, and the squandering ratepayer alike will wake up. It is high time that the nonentities who comprise the bulk of local body members were shunted into the ' scrap yard, for they are contributing m no small measure to bring about a financial back-wash ; that wilT; carry. ■ thousands «pjj the» P.lns." , - ■*-' [ FROM "STRONG TO WEAJfe ''■'/■ ' , ■ »s-!c- v -SHOULDERS. ' vy,/.;.V: " As for Government expediture, it is I necessaJrily (.political, but /there is vnd I known reason why political expendl-. ture should .riot conf orni> with' cpntimOri. sense, /-'if Mr. 'MasSey gives- a rebate, of! £1,000,000 to payers. 6f income tax. i whose incomes exceed £1000 a year, he is giving it as a gift to his wealthy constituents, at the expense of. his. poorer brethren, for It is absolutely Impossible to give the rebate any other way m the present circumstances. His interest and pensions bill is piling up, so he is compelled to get the' taxation some other way, and that is by increased Customs duties, salary cuts, .and increased death duties. If Mr. Massey can afford to give a rebate of £ 154,000 m Land Tax to thooe whose holding of unimproved value of " land exceeds £10,000, is he not shifting the load from the shoulders of his wealthy friends on to the breakfast table of - poor women and children? It Is a shame that such gross injustice can go unchallenged. There is only one man, Mr. F. J. Rolleston, •M.P. for Timaru, who has dared to be honest. His example is m sore need of being copied. . If Mr. Massey can give a rebate of £250,000 m postage rates, does he not stand condemned as favoring the big commercial houses at the expense of the breakfast table of the working men, their women and children? Mr. F. J. Rolleston is undoubtedly the leader of' a vast opposition to Mr. Massey, and may look to follow his- illustrious father's example as a champion of the people, and that before much water flows under the bridge. HOW DEBT HAS CLIMBED. Our national debt has climbed and climbed, from £61 per head m 1897, to £70 m 1907, then to £99 per head m 1916, until it reached the astounding figure of £169 per head m 1922, or a total of £219,000,000. If we are to carry on at this rate for many years longer we can be sure of a nasty awakening. When a Government has insufficient backbone to save ub from a disaster it is t^me it was removed, 1

though the diflleultyjs to arouse sufficient interest m cause and effect before a smash does come. As to death duties, m 1909 an estate of £10,000 going equally to a widow and two children, paid £333 estate duty. Now the duty amounts to £466. If the estate was value at £15.---OQO, the duty m 1909 was £900, while to-day it amounts to £1150. Or suppose the sole beneficiary was a relative abroad, not being within the third degree of blood relationship, the duty on a £10,000 estate m 1909 was £1000, while to-day it is £2100. THE (FINANCIAL) GYPSY'S WARNING. Sir George- Elliot, Chairman of the Bank of New Zealand, m addressing the shareholders otf December 14 (last month), said: ,'.:■ The large volume of imports during the last twelve months is causing some concern, and notwithstanding the lesson: importers had m 1921---,.v,22 there is said to be considerable over-stocking. Articles of luxury, especially, have been imported to an extent that raises misgivings amongst those who recognise the necessity for strict economy m both public and private expenditure. If Sir George Elliot is taken notice of we may avoid some of the effects of. the present public and private extravagance; his predecessor, Sir Harold Beauchamp, gave the same advice for years, but he was called a "croaker" for his pains. . He was unable to- save the slump three years ago. That was riot his fault. It: was the fault of the squandering Government, the reckless local bodies, and the ex- ;: travagrant. : ,;pe.ople. Will history reipeat>;4tsel£ ?---.-* * •